NuVasive (NASDAQ:NUVA) Receives New Coverage from Analysts at StockNews.com

Posted by Defense World Staff on Apr 11th, 2023

StockNews.com assumed coverage on shares of NuVasive (NASDAQ:NUVA – Get Rating) in a research report issued on Tuesday. The brokerage set a “hold” rating on the medical device company’s stock.

Several other equities research analysts have also commented on NUVA. Citigroup lowered shares of NuVasive from a “buy” rating to a “neutral” rating and reduced their price target for the company from $63.00 to $52.00 in a report on Friday, February 10th. Needham & Company LLC cut NuVasive from a “buy” rating to a “hold” rating in a research note on Friday, January 6th. Truist Financial cut NuVasive from a “buy” rating to a “hold” rating and boosted their price objective for the company from $51.00 to $52.50 in a report on Friday, February 10th. Morgan Stanley upped their price objective on shares of NuVasive from $44.00 to $44.50 and gave the stock an “equal weight” rating in a research report on Thursday, February 23rd. Finally, Wells Fargo & Company downgraded shares of NuVasive from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $47.00 to $57.72 in a research report on Friday, February 10th. Ten research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $50.77.

NuVasive Stock Performance

NUVA opened at $42.08 on Tuesday. The company’s 50 day moving average is $42.25 and its 200 day moving average is $41.72. The company has a market cap of $2.20 billion, a price-to-earnings ratio of 59.27, a PEG ratio of 1.04 and a beta of 1.07. NuVasive has a 12-month low of $35.17 and a 12-month high of $60.47. The company has a current ratio of 1.21, a quick ratio of 0.74 and a debt-to-equity ratio of 0.51.

NuVasive (NASDAQ:NUVA – Get Rating) last announced its quarterly earnings results on Wednesday, February 22nd. The medical device company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.08). NuVasive had a net margin of 3.36% and a return on equity of 12.45%. The firm had revenue of $305.45 million for the quarter, compared to the consensus estimate of $311.01 million. During the same period in the previous year, the company posted $0.40 earnings per share. NuVasive’s quarterly revenue was up 1.1% on a year-over-year basis. On average, equities research analysts predict that NuVasive will post 2.02 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of NUVA. Vise Technologies Inc. boosted its position in NuVasive by 4.6% in the 4th quarter. Vise Technologies Inc. now owns 5,025 shares of the medical device company’s stock valued at $207,000 after buying an additional 223 shares during the last quarter. Campbell Newman Asset Management Inc. grew its holdings in NuVasive by 2.4% in the 3rd quarter. Campbell Newman Asset Management Inc. now owns 10,076 shares of the medical device company’s stock worth $441,000 after buying an additional 238 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of NuVasive by 1.8% during the third quarter. Oregon Public Employees Retirement Fund now owns 15,194 shares of the medical device company’s stock valued at $666,000 after purchasing an additional 272 shares in the last quarter. NorthCrest Asset Manangement LLC lifted its stake in shares of NuVasive by 2.1% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 13,880 shares of the medical device company’s stock worth $572,000 after acquiring an additional 280 shares during the period. Finally, Point72 Hong Kong Ltd boosted its stake in NuVasive by 28.3% during the 1st quarter. Point72 Hong Kong Ltd now owns 1,347 shares of the medical device company’s stock valued at $76,000 after purchasing an additional 297 shares in the last quarter.

NuVasive Company Profile

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NuVasive, Inc engages in the development, manufacture, sale, and provision of procedural solutions for spine surgery. It offers a comprehensive portfolio of procedurally integrated spine surgery solutions, including surgical access instruments, spinal implants, fixation systems, biologics, and enabling technologies, as well as systems and services for intraoperative neuromonitoring.